国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Markets

China posts first monthly forex transaction deficit

(Xinhua) Updated: 2014-09-16 16:24

China posts first monthly forex transaction deficit

Photo taken on March 16, 2014, shows yuan (central) and other currencies in the picture. [Photo/IC]

BEIJING -?Chinese bought more foreign currency than they sold in August, resulting in the first monthly deficit in foreign exchange transactions in 13 months, China's foreign exchange regulator said on Tuesday.

Chinese institutions and individuals bought $147.4 billion in foreign currency and sold $146.6 billion in exchange for 903.3 billion yuan last month, according to data from the State Administration of Foreign Exchange (SAFE), China's forex regulator.

The country's growing appetite for foreign currency led to a deficit of $800 million in foreign exchange transactions in the month.

The deficit was compared with a surplus of $1.2 billion in July, and the fluctuation in forex transactions contributed to changes in China's foreign reserves.

"The monthly deficit in forex transactions showed short-term capital inflow has slowed or even a capital outflow has appeared to some extent," said Cai Hongbo, an associate professor in economics and business administration with Beijing Normal University.

As people's expectation of the renminbi exchange rate has changed, the private sector seems more willing to hold foreign currency.

"However, we don't have to be worried about the monthly deficit in foreign exchange transactions because it's not the first time that China has recorded such deficits," Cai said, adding that two-way flow of cross-border capital will become normal as expectations are divided.

The latest data on foreign exchange transactions followed a surprising drop in China's funds outstanding for foreign exchange and a decline in foreign direct investment (FDI) for August.

Considered part of China's broad money supply, funds for foreign exchange stood at 29.5 trillion yuan ($4.79 trillion) at the end of August, down 31.2 billion yuan from a month ago, the central bank said on Monday.

Meanwhile, FDI into China's mainland dropped to $7.2 billion in August, down 14 percent from a year ago and its lowest volume in nearly five years, the Ministry of Commerce said on Tuesday morning.

Once carried out, Chinese companies and individuals' forex forward contracts are expected to bring Chinese banks 140.8 billion yuan in net forex purchases in the future.

In the first eight months, Chinese banks bought $1.26 trillion worth of foreign currency while selling $1.08 trillion worth of forex, with a net forex purchase worth $188.6 billion.

During the January-August period, banks took in $2.17 trillion on behalf of clients through their overseas businesses and paid $2.09 trillion to overseas accounts at clients' request.

 

Hot Topics

Editor's Picks
...
...
安岳县| 冷水江市| 库尔勒市| 尼勒克县| 屯门区| 府谷县| 简阳市| 诸城市| 集安市| 措勤县| 莒南县| 成安县| 随州市| 晋城| 平凉市| 仙桃市| 榆树市| 宁南县| 崇义县| 高台县| 祁门县| 江川县| 罗源县| 蒙自县| 沧州市| 海阳市| 伊宁市| 长海县| 古丈县| 柯坪县| 庆安县| 东方市| 中西区| 泰顺县| 眉山市| 阿瓦提县| 宿迁市| 义马市| 聂拉木县| 正定县| 启东市|